85% home loan with no LMI / waived LMI

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Otto Dargan
Mortgage Specialist
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85% home loan with no LMI / waived LMI

Post by Otto Dargan »

Great news everyone! One of our lenders has just come out with a special offer under which the Lenders Mortgage Insurance premium is waived for mortgages for up to 85% of the property value.

The basic outline of the offer is as follows:
  • Maximum of 85% LVR (85% of the property value / purchase price).
  • Maximum loan size of up to $1.5 million. Higher on a case by case basis.
  • No genuine savings are required.
  • Purchases, refinances and all other reasonable purposes are considered.
  • Must have a clear credit history.
  • Must have stable employment (contact us for more info regarding this policy).
  • The requirement for Lenders Mortgage Insurance is waived. No LMI premium or risk fee is payable.
In addition to this there are also special interest rate discounts available, depending on the loan amount.

If you would like to know more about this special offer then please contact our office on 1300 889 743 and ask to speak to one of our mortgage brokers who specialise in discounted LMI.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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Hoa Hong
Mortgage Specialist
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Joined: Thu Aug 26, 2010 10:15 am
Location: Sydney, Australia
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Re: 85% home loan with no LMI / waived LMI

Post by Hoa Hong »

Hi Mark_mindy,

Without town sewerage, there are only a number of lenders who would consider this up to 70%.

Is this security on a very large acreage and does it have its own water?

At 85%, this lender is restricted to normal standard securities.

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